Author: Norah Amboko

Posted on

Unity Ingot

What is Unity Ingot?

As more cryptocurrencies emerge in the market, it is interesting to note the large number claiming to be the “next Bitcoin.” Can they match Bitcoin? Unity Ingot is a decentralized cryptocurrency and an open source platform claiming to be the first asset-backed by crypto mining. The cryptocurrency is designed to help create a store of wealth for users.

When a person invests in Unity Ingot, the value can be redeemed or passed to the future generation of friends or family members. The token differs from others because the proceeds are used to purchase gold bullions and Bitcoins as a store of value.

Since its launch in May 2017, the Unity Ingot’s native token (UNY) has stagnated with little growth. When the platform was launched in May 2017, the value of UNY was $0.01. By the close of the month, the value had grown significantly to reach $0.1 and remained within the range of $0.09 to $0.05 until August 2017. From September 2018 to February 2018, the value took a steady decline culminating to $0.002.

By mid-February 2018, the value shot up to $0.11 before dropping to $0.01 early in March 2018. By the close of the third quarter of 2018, the value of the coin was still $0.02. Many investors are waiting to see the direction that the value of the token takes in the coming months to determine whether to invest in it or not.

What is the problem that Unity Ingot Solves?

Since 2009 when Satoshi Nakamoto launched Bitcoin, over 2000 new cryptocurrencies have hit the market. However, it is ironical that a lot of people still do not understand what the digital tokens are or how they work. Unity Ingot was designed to help address most of the issues that are preventing people from joining the blockchain niche.

  • Increasing the adoption of cryptocurrency in different niches

A closer look at most cryptocurrencies out there reveals that they are directed at helping people send funds on a peer2peer basis. However, few of them are designed to assist them to make a long-term investment. Whether you want to invest in the Ethereum or Ripple system, the main goal of these systems is helping users with short to medium goals. Now, Unity Ingot wants to help users to make long-term investments.

  • Mining complexity

Currently, there are two main ways of getting cryptocurrencies. The first one is buying from the exchanges and storing the tokens in a wallet. The problem with this method is that you will only get the coin you bought. Nothing more! The second method is mining. This is considered more effective because you continue minting more coins and directing them to your wallet. However, even the mining process is still very technical to many poeple. Unity Ingot targets to simplify the mining complexity by handling the technical part so that investors can relax and let the experts work for them.

  • Diversifying users’ target in cryptocurrencies for optimal returns

When people join cryptocurrencies, one of the main strategies used is only to target the seemingly most potential coin. But this method can easily frustrate you if the value of that coin takes a negative trend. The better strategy is targeting several high potential coins to spread the risk and optimize returns. Unity Ingot seeks to help miners target the most potential tokens and generating the highest value for money.

  • Expensive mining equipment

The cost of mining equipment in the market today is very limiting.  For example, many people who want to mine Bitcoin or Bitcoin Cash are forced to drain all their savings or even forego the venture completely. In addition to the high cost of miners, associated power bill is equally high. Unity Ingot targets to make the investment in mining easy and direct.

How does Unity Ingot Solve the problem?

The entire idea of creating Unity Ingot token is helping to enable exponential growth with a simple and reliable method of mining and investing in the long term. Here, are the main strategies used by the platform.

  • Advanced mining systems to mine the most valuable coins

The primary focus of Unity Ingots is investing in the most advanced mining equipment to optimize returns on investment. The systems comprise of advanced mining rigs that can help to mine the most valuable coins in the industry today. Some of the mining rigs run on a custom 8-slot motherboard, CPU AMD, 4GB of RAM DDR3, 64 GB MSATA Hard Drive, and power supply of 1600 watts. Some of the tokens mined using the rigs include Ethereum, Ripple, and Zcash.

  • Using multiple mining algorithms to optimize returns

Because tokens in the market are designed to run on different algorithms, Unity Ingot development team targets different mining algorithms for compatibility. The secret is ensuring that both ASIC supporting and ASIC resistant tokens can be mined to optimize results. Some of the most used to algorithms include Equihash used by coins such as Zcash, Bitcoin Gold, and ZenCash. Other supported mining algorithms include Scrypt, Blake, X11, Ethash, and X1 3.

  • Investing pool mining rewards in gold bullions and Bitcoins

After investing in the right equipment and technology, the rewards from mining are directed to long-term assets. Unity Ingot directs the funds to buy gold bullions and Bitcoins because they are considered stable and long-term investment. The stability of the two assets is expected to support positive value growth of the native tokens.

  • The Ethereum blockchain

To power the Unity Ingot system, the native tokens are based on the Ethereum blockchain. The Ethereum platform helps to add a new layer of security for the UNY tokens. The tokens also make trading in the markets and transfer of value easy.

What makes Unity Ingot better than it’s competitors?

Between 2009 and 2018, about 2000 cryptocurrencies had entered the market. The rising number of cryptocurrencies has opened the gate to severe competition. Here are some of the things that make Unity Ingot better than competitors.

  • The Unity Ingot platform is designed and run by experts in cryptocurrency mining. This implies that whether one has a background in computing or blockchain, the Unity Ingot system will help users to optimize returns.
  • The target of Unity Ingot to invest in stable assets is expected to help the value of the native tokens to grow over time. Though the performance was not impressive between January and the third quarter of 2018, the community is optimistic that the trend will change in the coming years.
  • The native token allows users to send and save funds on a peer2peer basis. Unlike the conventional banks that expose an investor’s information to many people such as cashiers and managers, Unity Ingot is anonymous. Once you have acquired the tokens, they are stored in wallets that are protected using advanced encryption and only the person with the private keys can access them. This implies that you can relax without worrying about third-party seizures.
  • The focus of Unity Ingot is helping people to focus on long-term investment. By directing the rewards from the mining pools to purchasing gold bullions and Bitcoins, investors can expect to get high ROI (return on investment) on their tokens over the long term.

How can Unity Ingot be categorized?

Unity Ingot is the first token backed by cryptocurrency mining. The platform has opened a new method of backing tokens that could soon take root because of the many mining pools in the industry today. However, the project is still new, and its features require time to be considered stable and reliable.

What is Unity Ingot’s vision on security?

When a new cryptocurrency project is released, the most important thing is security. Many investors walk away from projects that have weak structures because they are risky ventures. To ensure that the Unity Ingot system is secure and reliable, here are the main strategies used by the founders and the development team.

  • The UNY tokens are based on the Ethereum blockchain. This helps to add another layer of security to keep the users assets free from hackers.
  • The Unity Ingots users’ accounts are encrypted to make it difficult for attackers and third-party entities getting access to personal information.
  • The development team works progressively on identifying vulnerabilities and addressing them promptly to keep attackers away.
  • The platform is decentralized to ensure that there is no single point of error that can result to loss of user assets.

Examples of Unity Ingot’s use cases/ applications

Most cryptocurrencies in the market today were designed with the primary goal of getting the highest market share. Unity Ingot targeted to achieve this by ensuring that people can use the platform and the token in many areas;

  • Use UNY token to trade in the markets.

Unity Ingot tokens are ERC-20 tokens which imply they can be easily traded in the markets. You only need to identify the right exchanges that list Unity Ingots, register for a trading account, and pair it with another preferable coin.

  • Pay for goods and services in the stores that accept Unity Ingot.

The fast-growing list of stores that support blockchain networks has opened new avenues to make direct purchases with tokens such as UNY. You only need to identify a store that accepts your coin to buy preferred services or products. Note that even in the event that only a different coin is supported, it is still possible to use UNY coins by changing to the supported token.

  • Use the tokens to pay for taxes.

For years, many administrations considered cryptocurrencies as direct threats because of encryption, anonymous and decentralized operation. However, some are starting to realize the value of the digital coins and even allowing them for official use. A good example is Singapore. The Singapore administration allows users to make payment using cryptocurrencies by indicating that the primary goal is relaying value. You can also pay taxes in Arizona following the passing of HB 1091 in April.

  • Use UNY to send value across the globe.

Like other cryptocurrencies, you can use UNY to send value on a peer2peer basis. All that is required is for the sender and recipient to be on the same network. Because the platform allows users to bypass profit-seeking organizations such as banks, sending value is fast and cheap.  Within minutes, the recipient will have received the tokens no matter the location on the globe.

  • Unity Ingot token as an investment token.

For people who have been looking forward to investing in cryptocurrencies, the best method to select the right token is looking at the long-term expectation. Because UNY is backed by gold bullions, people expect that their investment will continue growing in the long term. However, it is important to appreciate the assessment for growth is based on speculation. The growth and ROI on investment that you can get from cryptocurrencies are based on many factors such as competition and the looming regulation.

NOTE: Though the design of the Unity Ingot platform and tokens might be desirable; different communities have raised concerns about the possibility of being a scam. One of the main things resulting in the argument is the lack of a clear token release model. Unlike other cryptocurrencies that have a clear model of release such as through mining, Unity Ingot indicates that the tokens are only released when there is demand.

Since its release in May 2017, most exchanges have refused to list the token indicating that it is a risky coin. With most of the exchanges having the robust assessment platforms to tell between a scam and genuine token, a lot of investors have opted to stay away from the token.

The Unity Ingot does not have a comprehensive white paper. Many people feel that a lot of components about the project have been overlooked, and investing there is too risky

With these concerns growing every day, experts are recommending that investors rethink their commitment. It is preferable to compare the investment with other related projects or spread the investment in different projects to lower the risk.

https://stocksgazette.com/2018/02/14/unity-ingot-uny-explained-does-it-have-potential/

https://bitcoinexchangeguide.com/cryptobontix/

https://www.reddit.com/r/CryptoCurrency/comments/6ob0qj/unity_ingot_is_probably_a_scam/

https://isthiscoinascam.com/check/unity-ingot

 

 

 

Posted on

Patientory

What is Patientory?

Patientory is a patient-oriented protocol targeted at changing the way electronic medical data is managed. The target is to ultimately become a public health institution that interacts with all health organizations to help securely, preserve and transmit data.

  • Patientory: A platform designed to revolutionize how medical records are handled

The platform was founded in June 2017 by a Delaware company referred to as Patientory. It also has its operational labs referred to as TechSquare Labs in Atlanta and San Francisco, California. To make the platform effective, it also features a native coin referred to as Patientory Coin (PTOY). The coin is used to fuel the platform.

The Patientory operates through the use of individual profiles where the medical records are stored. The medical information is then stored on a secure HIPAA channel on blockchain platforms for extra privacy and prompt access. The records allow the patients to easily monitor their medical records both inside and outside the hospital environment.

  • The Patientory coin (PTOY) performance

The performance of the PTOY reflects the high volatility being witnessed in the industry. The price of the token started at $0.6 early in June 2017 before climbing about 170% to $1.62 on 12th June. Then, the price shot down to $0.1 in the subsequent three days before climbing slightly to $0.3 on 21st June and sliding to $0.08 in mid-July 2018.

As more people developed an interest in the coin and the community reacted to the new invention, the trend moved up and down the last two quarters of 2017. In December the price shot up steadily and hit $0.6 on 2nd January 2018. However, the gain was short lived because the price took a downward trend to reach $0.1 early February 2018. From April, it continued on a downward trend culminating to $0.03 in the third quarter of 2018.

What is the problem that Patientory solves?

Many cryptocurrencies entering the market today are designed to address direct issues identified in the society or the predecessor blockchains. For Patientory, the founder wanted to see things in the healthcare system working differently. Here are some of the main problems that the Patientory system sought to address.

  • Centralized health data storage

One of the many issues affecting the healthcare system is the fast-growing quantities of data and its processing. The patient’s medical records should be stored in a manner that they are easily accessible and indestructible for greater efficiency. The current systems of centralized data storage are highly ineffective, and user data cannot be easily accessed. The system is fragmented, and access to patient info is at times completely impossible.  In some cases, patients are forced to undergo new and expensive procedures because the records are unavailable.

  • Poor adoption of blockchain technology in the community

Though the blockchain technology has been in the market since 2009 when Satoshi Nakamoto created Bitcoin, the infiltration into different sectors has been relatively sluggish. In most of the cases, the new blockchains are a replication of what is already in the market especially platforms for sending value. Patientory addresses this problem by venturing in the medical niche with the focus on patient’s data storage.

  • The risk of data loss and corruption in the healthcare system

When a patient visits a health facility, and the details are captured after treatment, the conventional data system poses a serious risk of data loss and manipulation. Some insurance companies collude with health facilities to alter the patient health records in order to lower compensation requirements. In other cases, the records can be altered or removed from the system to influence the outcome of court cases. Patientory targets to address this problem by ensuring that the data captured on the storage system is immutable and permanent.

  • Lack of regulation in the blockchain niche

One of the serious threats facing the blockchain niche is lack of regulation. With the governments threatening to pass harsh laws on blockchain technologies, developers have been wondering how to fit within the current legal framework. However, Patientory has managed to find the perfect fit in line with the Health Insurance Portability and Accountability Act of 1996 (HIPAA).

How does Patientory Solve the problem?

To address the outlined problems, the development team knew it had to be creative because patient information is sensitive and the law insists it must be kept private all the time. Therefore, the system had to be perfected to win the trust of patients, the community and operate within the law. Here are some of the methods used to address the problems.

  • A peer2peer Care Management  System

The peer2peer care management system used at Patientory makes it easy for users to store and access medical records stored in the platform. The focus is on ensuring that the information is stored in many nodes so that it can be validated easily. This implies that there is no single point of failure and the details cannot be lost. No matter the time of the day or night, users are assured of accessing the data for treatment or management.

  • The Patientory issued tokens

Patientory tokens are ERC-20 tokens used for making purchases and payments on the Patientory platform. The tokens are based on the Ethereum platform which implies that they can be traded and even used to send value across the globe. Other uses of the tokens include effecting payments especially by the insurance companies that want to get accurate and correct data.

  • A decentralized network of nodes

The Patientory system uses a network of nodes spread across the globe that help to store and protect data. The system allows people with ample storage to rent it for pay. The nodes include health organizations that also help users to store their information correctly on the platform. To make the system work, the platform utilizes a Data Aggregate Machine that helps to verify the user data using a system of private keys. The machine helps to place secure requests from the blockchain.

  • Deriving partnership with all health organizations

When crafting the Patientory system, the development team knew that they needed to rope other organizations in the health sector to map their road for growth. From insurance to private health facilities, the Patientory platform has become a cheap and reliable option for accessing correct, timely, and permanent data. These organizations can also act as nodes in the platform.

It is also important to note that the platform’s native tokens are based on the Ethereum blockchain. In addition to providing an additional layer of security, the link with Ethereum blockchain means that it can easily be traded for other ERC-20 tokens either in decentralized or other standard exchanges.

What makes Patientory better than it’s competitors?

Unlike other cryptocurrencies that are primarily targeted at helping people send value, the focus of Patientory development team wanted to do things differently. This approach has given the platform a competitive advantage over others. Here are some of the things that make Patientory better than others.

  • The platform is designed and operated in line with the set regulatory standards. By following the Health Insurance Portability and Accountability Act (HIPAA) requirements on data privacy and other regulations, the platform is assured of growing stronger even if the government passes harsh regulations. The platform has made developers start believing that it is possible to craft a high-performance crypto platform without going against the law.
  • By adopting the decentralized approach to data storage, all the profit-seeking operators are bypassed to help make the transactions cheaper and realistic. Note that the lower transaction costs do just simply apply to data storage. You will also enjoy lower charges when clearing payments for organizations that use the Patientory system.
  • The Patientory community has been growing steadily, and the experts are in agreement that the potential of the platform is very high. Though the value of the native coin has been on a negative trend, it is expected to grow as in the coming years as the usefulness of the system is discovered.
  • The Patientory platform targets a very rich niche that has been less explored. Even though some cryptocurrency platforms are dealing with big data, none of them had targeted the medical records. This implies that the platform is likely to enjoy near monopoly because all patients need to have their medical records stored securely.
  • The system is very appealing because many people hold the view that they are not just investing in Patientory, but also in the healthcare system. This makes people own the healthcare system and become part of the force that will take it to the next level.

How can Patientory be categorized?

Patientory is the next generation patient-oriented protocol that will help to define the next step in the health sector. The platform has demonstrated that it is possible to decentralize the patient data and place the control in the hands of the patient. The network has won the hearts of more players because it is created in line with all related laws. By allowing more parties including individuals and healthcare organizations to plug into and use the platform, everyone can now feel part of the healthcare system.

What’s Patientory’s vision on Security?

The Patientory’s vision on security is creating a completely decentralized and secure platform for handling electronic medical data. The development team wanted to demonstrate that it is possible to store and access data without risking unauthorized access or attacks. Here are some of the methods used to guarantee users of optimal security when using the platform.

  • The system strictly adheres to all the security requirements set out in the HIPAA (Health Insurance Portability and Accountability Act). The Patientory system adheres to the HIPAA rules by ensuring that at any moment, only the patient has access to the access and other parties have to get consent to access the data.
  • The development team comprises of experts in blockchain and medical records. The experts carry a comprehensive review of the platform and regularly fix vulnerabilities to keep the platform free from attackers.
  • The native tokens on the Patientory platform are based on the Ethereum blockchain. This provides another layer of security to make it difficult for attackers to break and siphon your tokens.

 Examples of Patientory’s use cases/ applications.

To help advance the blockchain technology, the Patientory development team believe in creativity. While the platform is largely projected in the healthcare sector, the application extends to other sectors including those covered by older cryptocurrencies. Here are some of the main use cases of Patientory.

  • The primary goal of the Patientory coin is fueling the native blockchain infrastructure. Though the patients are allocated free space when their details are captured, they can buy more space using the PTOY. This implies that the patients have total control over their medical records in the Patientory Platform.
  • The Patientory coin is also used by other organizations to make payments. For example, some organizations use PTOY to clear payments for intelligent contracts that have been cleared with health insurance companies. The process makes it easy for insurance companies to get the right information on time for correct assessment and prompt payments.
  • As a decentralized network, users are allowed to lease their space to people for payment using PTOY. The decentralized nature of data storage ensures that there is no risk of information loss or failure like it happens with centralized servers.
  • Trade the native coins to trade in the markets. Like other cryptocurrencies, PTOY is a digital asset tradable in exchanges such as EtherDelta, Liqui, Bittrex, and Latoken. The markets operate like the standard forex trading platforms though they deal with digital tokens as opposed to fiat currencies. Note that you will be required to open a trading account and verify it to be able to start trading.
  • Use PTOY to save funds in the platform. If you have some funds and want to save them anonymously, one of the top options is the Patientory coin. The coin is encrypted so that no third party can know about the balance, transaction, or personal details. You can even rest knowing that even a court of law cannot authorize access or freeze the personal savings.